Staff at Solihull-based developer Rosemound will share in a #105 million windfall following a #336 million deal to sell it to Australian industrial property group Macquarie Goodman.

Founders David Keir and Jason Dalby set up the company five years ago to set up distribution centres and warehouses across the Midlands and southern England.

The two men and other staff at the firm are set to share around #105 million following the deal with Macquarie Goodman.

Rosemound, based in Blythe Valley Business Park, employs around 30 people and has a landbank of 1,000 acres.

HBOS, which has a 50 per cent stake in the company, is expected to make around #105 million from the deal after it recovers the #125 million debt it advanced Rosemound.

Macquarie Goodman, which no longer has links with Australian bank Macquarie - the owner of Birmingham International Airport - has been increasing its UK holdings recently.

It bought the former Jaguar site at Browns Lane in Coventry last month, and already owns Birmingham Business Park in Solihull.

Last year it bought business park developer Akeler through its #1.8 billion Arlington Business Parks Partnership, making it one of the largest commercial property funds in the UK, with 26 business parks and schemes.

Rosemound specialises in developing industrial and distribution centres for clients which include Tesco, Wincanton and Exel Logistics.

Among the projects it has carried out is 750,000 sq ft DIRFT distribution centre for Tesco at Daventry, Northamptonshire and the 362,000 sq ft RD Park Hinckley for Walsh Western.

David Keir, executive chairman of Rosemound said, "We are very excited about joining Macquarie Goodman and the opportunity it provides to become a core component of the group's global logistics platform.

"The strategic fit between the businesses will encourage expansion across both the UK and Europe and we are looking forward to working closely together."